HBL Engineering Ltd
HBLENGINE NSE
HBL Engineering Ltd
AutomobilesNSE: HBLENGINE BSE: 517271 Auto Components
Key Fundamentals
SmallcapAuto ComponentsAutomobilesMarket Cap
₹18,633 Cr
Volatility
Moderate
P/E Ratio
23.79
EBITDA
₹1,082 Cr
Return on Equity
18.65%
Debt to Equity
0.03
Book Value
₹79.88
EPS
₹11.84
52W High
₹1,122
52W Low
₹613
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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31 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
4- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 118% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.1%
Weaknesses
1- Stock is trading at 8.45 times its book value
Growth Rate
Revenue Growth
65.70% ↗
Net Income Growth
186.35% ↗
Cash Flow Change
-11.52% ↘
ROE
-18.84% ↘
ROCE
-17.71% ↘
EBITDA Margin (Avg.)
53.38% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk medium
HBL Engineering Ltd has a market cap of ₹19,348 Cr trading at a PE of 24.5x and PB of 8.65x. The company has delivered exceptional profit growth of 118% CAGR over 5 years with TTM sales growth of 63%, while maintaining a near debt-free balance sheet. The stock has corrected 9% over the past year despite strong underlying fundamentals.
Bull Case 8
- Exceptional profit growth with 5-year compounded profit CAGR of 118% and TTM profit growth of 134%
- Company is almost debt-free, providing financial flexibility and low interest burden
- Strong return on equity with last year ROE at 45% and 3-year average ROE of 33%
- Robust revenue momentum with TTM sales growth of 63% and 3-year compounded sales CAGR of 34%
- PE of 24.5x is reasonable relative to the 118% 5-year profit CAGR, implying a PEG ratio well below 1
- Long-term wealth creation track record with 10-year stock CAGR of 35% and 5-year stock CAGR of 69%
- Company is expected to deliver a good upcoming quarter based on operational momentum
- 10-year ROE of 18% improving to 45% last year signals a structural improvement in capital efficiency
Bear Case 8
- Stock trades at 8.65x book value, which is a steep premium and leaves limited margin of safety
- Stock has declined 9% over the past 1 year despite strong earnings growth, suggesting possible de-rating
- Dividend yield of just 0.43% offers minimal income return to shareholders
- TTM profit growth of 134% may not be sustainable going forward, creating high base effect risk
- 5-year compounded sales CAGR of 29% trails the 118% profit CAGR significantly, raising questions about margin sustainability
- 10-year sales CAGR of only 10% suggests the recent revenue acceleration may be cyclical rather than structural
- Market cap of ₹19,348 Cr on the back of rapid re-rating leaves the stock vulnerable to any earnings miss
- High valuation multiple means any slowdown in growth trajectory could trigger sharp correction in stock price
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 16h ago Headwinds 1
- Net profit drops 25% YoY Aug 8
Q1FY26 standalone net profit fell to ₹105.47 crore from ₹139.73 crore YoY, despite revenue growing 5.4% to ₹619.54 crore, indicating margin compression.
Positives 1
- ₹31.49 cr KAVACH order win Aug 3
Secured confirmed order from ICF for on-board KAVACH loco equipment worth ₹31.49 crore, with execution by March 2028. Order backlog stands at ₹3,452 crore covering 4.11 quarters.
Neutral 1
- Q1FY27 results board approved Aug 8
Board approved unaudited standalone and consolidated financial results for Q1FY27 with auditors issuing an unmodified opinion.
TL;DR: HBL Engineering has a healthy order backlog of ₹3,452 crore (4+ quarters coverage) and continues winning railway-related orders like KAVACH, signaling strong revenue visibility. However, profitability is under pressure with a 25% YoY drop in net profit despite modest revenue growth, pointing to margin erosion. The trend is mixed — top-line momentum and order wins are encouraging, but execution efficiency and cost management need to improve for earnings recovery.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 467 | 557 | 599 | 610 | 520 | 521 | 451 | 476 | 602 | 1,223 | 874 | 604 | 638 |
| Expenses | 390 | 456 | 486 | 479 | 410 | 412 | 357 | 396 | 410 | 679 | 572 | 529 | 491 |
| Operating Profit | 78 | 101 | 113 | 131 | 110 | 109 | 94 | 79 | 192 | 544 | 302 | 75 | 147 |
| OPM % | 17% | 18% | 19% | 22% | 21% | 21% | 21% | 17% | 32% | 44% | 35% | 12% | 23% |
| Other Income | 3 | 3 | 2 | -19 | 5 | 12 | 2 | 6 | 17 | -8 | 10 | 10 | 21 |
| Interest | 2 | 3 | 3 | 4 | 2 | 3 | 5 | 4 | 6 | 3 | 3 | 2 | 5 |
| Depreciation | 10 | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 12 | 12 | 12 | 15 | 12 |
| PBT | 69 | 91 | 102 | 98 | 103 | 107 | 79 | 71 | 191 | 520 | 297 | 67 | 149 |
| Tax % | 25% | 26% | 23% | 33% | 26% | 29% | 26% | 26% | 26% | 26% | 27% | 18% | 26% |
| Net Profit | 52 | 68 | 79 | 81 | 80 | 87 | 65 | 45 | 143 | 387 | 220 | 64 | 109 |
| EPS in Rs | 1.87 | 2.48 | 2.85 | 2.94 | 2.89 | 3.15 | 2.33 | 1.62 | 5.17 | 13.97 | 7.96 | 2.3 | 3.94 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,349 | 1,299 | 1,414 | 1,603 | 1,266 | 1,092 | 912 | 1,236 | 1,369 | 2,233 | 1,967 | 3,303 | 3,339 |
| Expenses | 1,210 | 1,164 | 1,286 | 1,477 | 1,169 | 1,011 | 845 | 1,097 | 1,217 | 1,810 | 1,574 | 2,190 | 2,271 |
| Operating Profit | 139 | 134 | 129 | 126 | 97 | 81 | 67 | 139 | 151 | 423 | 393 | 1,113 | 1,068 |
| OPM % | 10% | 10% | 9% | 8% | 8% | 7% | 7% | 11% | 11% | 19% | 20% | 34% | 32% |
| Other Income | 9 | 12 | 21 | 16 | 21 | 22 | 6 | 26 | 20 | 8 | 38 | 28 | 32 |
| Interest | 71 | 68 | 46 | 41 | 31 | 22 | 15 | 7 | 7 | 13 | 13 | 15 | 14 |
| Depreciation | 53 | 51 | 48 | 46 | 44 | 41 | 39 | 35 | 35 | 41 | 44 | 51 | 52 |
| PBT | 24 | 27 | 54 | 55 | 43 | 40 | 19 | 122 | 130 | 377 | 374 | 1,075 | 1,034 |
| Tax % | 43% | 45% | 29% | 42% | 35% | 35% | 29% | 23% | 24% | 26% | 26% | 25% | — |
| Net Profit | 14 | 15 | 38 | 32 | 28 | 26 | 14 | 94 | 98 | 280 | 276 | 814 | 780 |
| EPS in Rs | 0.56 | 0.59 | 1.53 | 1.14 | 1 | 0.95 | 0.5 | 3.39 | 3.56 | 10.13 | 9.99 | 29.4 | 28.17 |
| Div. Payout % | 36% | 42% | 18% | 22% | 30% | 32% | 71% | 12% | 13% | 5% | 10% | 3% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 |
| Reserves | 539 | 584 | 701 | 724 | 739 | 745 | 754 | 838 | 924 | 1,193 | 1,455 | 2,187 |
| Borrowings | 686 | 549 | 479 | 366 | 232 | 161 | 70 | 63 | 86 | 67 | 74 | 67 |
| Other Liabilities | 311 | 277 | 258 | 224 | 162 | 169 | 184 | 204 | 257 | 366 | 422 | 661 |
| Total Liabilities | 1,562 | 1,435 | 1,467 | 1,342 | 1,161 | 1,103 | 1,036 | 1,133 | 1,294 | 1,654 | 1,980 | 2,942 |
| Fixed Assets | 456 | 415 | 417 | 363 | 321 | 304 | 279 | 265 | 320 | 354 | 397 | 441 |
| CWIP | 49 | 48 | 33 | 26 | 37 | 27 | 43 | 81 | 50 | 20 | 68 | 127 |
| Investments | 2 | 8 | 8 | 5 | 5 | 6 | 7 | 8 | 9 | 108 | 290 | 402 |
| Other Assets | 1,054 | 964 | 1,008 | 947 | 797 | 766 | 707 | 779 | 915 | 1,171 | 1,225 | 1,972 |
| Total Assets | 1,562 | 1,435 | 1,467 | 1,342 | 1,161 | 1,103 | 1,036 | 1,133 | 1,294 | 1,654 | 1,980 | 2,942 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 79 | 158 | 43 | 159 | 167 | 149 | 121 | 62 | 122 | 270 | 239 | 738 |
| Investing | -13 | -10 | 60 | -8 | 1 | -6 | -32 | -17 | -50 | -137 | -320 | -214 |
| Financing | -66 | -153 | -114 | -150 | -163 | -114 | -104 | -22 | 10 | -42 | -26 | -113 |
| Net Cash Flow | 0 | -5 | -11 | 1 | 5 | 29 | -14 | 23 | 82 | 91 | -107 | 411 |
| Free Cash Flow | 62 | 144 | 5 | 149 | 168 | 140 | 86 | 41 | 68 | 204 | 120 | 618 |
| CFO/OP | 60 | 125 | 41 | 149 | 192 | 201 | 184 | 65 | 105 | 85 | 86 | 93 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 106 | 120 | 122 | 103 | 105 | 102 | 102 | 86 | 83 | 58 | 69 | 71 |
| Inventory Days | 226 | 185 | 168 | 126 | 145 | 162 | 188 | 149 | 147 | 137 | 201 | 148 |
| Days Payable | 81 | 77 | 68 | 43 | 34 | 41 | 44 | 42 | 43 | 41 | 68 | 49 |
| Cash Conversion Cycle | 252 | 228 | 222 | 186 | 216 | 222 | 246 | 193 | 188 | 154 | 202 | 171 |
| Working Capital Days | 57 | 55 | 66 | 73 | 104 | 121 | 149 | 126 | 117 | 81 | 106 | 100 |
| ROCE % | 8% | 8% | 8% | 9% | 6% | 6% | 4% | 13% | 14% | 36% | 27% | 58% |
Documents
1
Board Meeting Intimation for To Consider Audited Financial Results And Recommendation Of Final Dividend, If Any.
28 Apr - Board meets on May 23, 2026 to approve FY26 audited results and consider dividend. 28 Apr - Board meets on May 23, 2026 to approve FY26 audited results and consider dividend.
2
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
21 Apr - HBL Engineering says it is not a large corporate under SEBI debt issuance norms for FY2025-26. 21 Apr - HBL Engineering says it is not a large corporate under SEBI debt issuance norms for FY2025-26.
3
Board Meeting Intimation for To Consider Audited Financial Results And Recommendation Of Final Dividend, If Any.
28 Apr - Board meets on May 23, 2026 to approve FY26 audited results and consider dividend. 28 Apr - Board meets on May 23, 2026 to approve FY26 audited results and consider dividend.
4
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
5h - HBL Engineering says it is not a large corporate under SEBI debt issuance norms for FY2025-26. 5h - HBL Engineering says it is not a large corporate under SEBI debt issuance norms for FY2025-26.
5
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
9 Apr - HBL secured Rs83.81 crore PLW order for KAVACH supply, testing and commissioning by April 15, 2027. 9 Apr - HBL secured Rs83.81 crore PLW order for KAVACH supply, testing and commissioning by April 15, 2027.
1
Board Meeting Outcome for Financial Results Of The Company For The Quarter Ending June 30 2026 8 Aug 2026
Outcome
Frequently Asked Questions about HBL Engineering Ltd
What does HBL Engineering Ltd do?
Incorporated in 1983, HBL Power System Ltd manufactures and services different types of batteries, e-mobility, and other products[1]
Where is HBL Engineering Ltd (HBLENGINE) listed?
HBL Engineering Ltd is listed on the Indian stock exchanges. It is listed on NSE: HBLENGINE and BSE: 517271. You can view its live share price, financials, and ratios on Tapetide.
Which sector does HBL Engineering Ltd belong to?
HBL Engineering Ltd operates in the Automobiles sector within the Auto Components industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of HBL Engineering Ltd?
HBL Engineering Ltd has a market capitalisation of approximately ₹18633.04 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of HBL Engineering Ltd?
The Price-to-Earnings (PE) ratio of HBL Engineering Ltd is 23.79. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of HBL Engineering Ltd?
Over the past 52 weeks, HBL Engineering Ltd has traded between a low of ₹613 and a high of ₹1,122. This range helps investors understand the stock's price volatility and recent trading levels.
Does HBL Engineering Ltd pay dividends?
Yes, HBL Engineering Ltd has a dividend yield of 0.44%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of HBL Engineering Ltd?
HBL Engineering Ltd has a Return on Equity (ROE) of 18.65%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research HBL Engineering Ltd on Tapetide?
On Tapetide, you can view HBL Engineering Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Incorporated in 1983, HBL Power System Ltd manufactures and services different types of batteries, e-mobility, and other products[1]
Website hbl.in
CEO Dr. Aluru Jagadish Prasad
Employees 2,152
Listed 2007-01-04
Face Value ₹ 1
Issued Size 27,71,94,946